The euro appreciated vis-√†-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2780
level and was supported around the $1.2675 level.The common currency reversed course and moved
to its highest level this week after the release of better-than-expected U.S.
second quarter gross domestic product data.It was reported the economy expanded an annualized 1.6% q/q in Q2, down
from Q1‚Äôs 2.4% pace but stronger-than-expected on higher-than-reported personal
consumption.Other data saw the Q2 GDP
price index tick higher to 1.9% while the Q2 core PCE price index was up 1.1%
q/q.Finally, the final August
University of Michigan consumer sentiment survey moved lower to 68.9 from the
previous print of 69.6.U.S. debt
markets fell sharply today with the 30-year U.S. Treasury bond off more than
three points, one of its most sizable declines in years.The common currency also moved higher after
Federal Reserve Chairman Bernanke indicated the Fed ‚Äúwill do all that it can‚ÄĚ
to extend the U.S. economic recovery.Bernanke noted ‚Äúthe Committee is prepared to provide additional monetary
accommodation through unconventional measures if it proves necessary,
especially if the outlook were to deteriorate significantly.‚ÄĚBernanke suggested the ‚Äúpreconditions‚ÄĚ for
economic growth in 2011 ‚Äúare in place‚ÄĚ and added the risk of an ‚Äúundesirable
rise in inflation or of significant further disinflation seems low.‚ÄĚOne strategy Bernanke alluded to was shifting
the composition of its bond reinvestment strategy.On 10 August, the Federal Open Market
Committee announced it would reinvest proceeds from maturing mortgage-backed
securities into U.S. Treasuries.August
non-farm payrolls data will be released next Friday and are forecast to have
grown around 40,000 to 50,000 with the unemployment rate ticking higher to
9.6%.In eurozone news, the German July import price index was off 0.2%
m/m and up 9.9% y/y while provisional August consumer price inflation for most
German states moved lower, taking the national CPI index to 0.0% m/m and 1.0%
y/y at the headline level and up 0.0% m/m and 0.9% y/y at the harmonized level.European Central Bank President Trichet spoke
at the Jackson Hole symposium today and warned additional government spending
would be ‚Äúvery dangerous,‚ÄĚ adding fiscal consolidation need to be ‚Äúambitious.‚ÄĚEuro offers are cited around the US$
The yen depreciated
vis-√†-vis the U.S. dollar today as the greenback tested offers around the ¬•85.45
level and was supported around the ¬•84.25 level. Prime Minister Kan stepped up the verbal rhetoric
overnight, saying ‚ÄúWe are ready when necessary to take bold measures‚ÄĚ in the
currency markets.Kan added he expects
Bank of Japan to take action ‚Äúswiftly,‚ÄĚ noting he will speak with BoJ Governor
Shirakawa after he returns from the U.S.BoJ‚Äôs Policy Board is scheduled to meet on 6-7 September and there is
talk the central bank may meet earlier, leading to speculation policymakers may
enact and implement additional monetary easing.Even if Japan does not conduct yen-selling intervention, it is likely
the government will force the BoJ to expand monetary policy further.Prime Minister Kan is under pressure to
implement more policies to improve the Japanese economy, especially ahead of
next week‚Äôs election within the ruling Democratic Party of Japan.An outline of stimulus measures is expected
to be released by 31 August.Japanese
monetary authorities have not officially intervened in the foreign exchange
market since March 2004.Data released
in Japan overnight saw the July jobless rate tick lower to 5.2% from 5.3% in
June while July overall household spending climbed 1.1% y/y.On the inflation front, July national
consumer price inflation was off 0.9% y/y at the headline level and off 1.5%
y/y at the ex-food, energy level.August
Tokyo-area consumer price inflation narrowed to -1.0% y/y at the headline level
and -1.4% y/y at the ex-food, energy level.The Nikkei 225 stock index climbed 0.69% to close at ¬•8,906.48.U.S. dollar bids are cited around the ¬•84.60
moved higher vis-√†-vis the yen as the single currency tested offers around
the ¬•108.85 level and was supported around the ¬•106.95 level.The
British pound moved higher vis-√†-vis the yen as sterling tested offers around
the ¬•132.55 level while the Swiss franc moved
higher vis-√†-vis the yen and tested offers around the ¬•83.10 level. In Chinese news, the U.S. dollar depreciated
vis-√†-vis the Chinese yuan as the greenback closed at CNY 6.7980 in the
over-the-counter market, down from CNY 6.7996. Data released in China overnight saw the
August MNI business conditions survey narrow to 62.16 from 64.94.Money market rates increased the most in two
months ahead of Industrial and Commercial Bank of China‚Äôs bond sale.Sources indicate Chinese officials convened
recently and it is ‚Äúvery unlikely‚ÄĚ People‚Äôs Bank of China will raise interest
rates this year.PBoC adviser Xia Bin
reported China will not relax its 2010 lending target of CNY 7.5 trillion.
British pound depreciated vis-√†-vis the U.S. dollar today as cable tested bids
around the US$ 1.5440 level and was capped around the US$ 1.5540 level. Data released in the U.K. today saw Q2 gross
domestic product up 1.2% q/q and 1.7% y/y, stronger-than-expected on higher private
consumption.Q2 total business
investment was off 1.6% q/q and up 1.9% y/y.Bank of England Monetary Policy Committee member Weale this week warned
the U.K. economy faces a ‚Äúsignificant‚ÄĚ risk of falling into a double-dip
recession.Mortgage lending has tumbled
18.5% in the U.K. over the past year yet inflation remains significantly
elevated and may require official higher rates from the central bank.Cable bids are cited around the US$ 1.5385
level.The euro appreciated vis-√†-vis the British pound as the single
currency tested offers around the ¬£0.8230 level and was supported around the
franc depreciated vis-√†-vis the U.S. dollar today as the greenback tested offers
around the CHF 1.0305 level and was supported around the CHF 1.0220 level. Swiss National Bank member Jordan today said
he supports a capital surcharge for large banks, adding it is ‚Äúcrucial‚ÄĚ to have
more and better capital.SNB Chairman
Hildebrand this week reiterated economic uncertainty remains elevated and said
the central bank‚Äôs balance sheet has risks.Data released in Switzerland saw the August KOF Swiss leading indicator
tick lower to 2.18.U.S. dollar offers
are cited around the CHF 1.0980 level.The euro appreciated vis-√†-vis the
Swiss franc as the single currency tested offers around the CHF 1.3120 level
while the British pound moved higher
vis-√†-vis the Swiss franc and tested offers around the CHF 1.5990 level.
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.